Fraud alert for tiered social network Vitae promises huge profits of $ 28,000

The Ministry of Competition and Consumer Protection of Synthetic Team came out warning Fraud on multi-tier crypto investment models like Crowd1, OneLink and Vitae. Crowd1 and OneLink are two projects that have been heavily promoted on social networking sites lately. And Vitae (not to be confused with Vitae Global) is an up-and-coming name that is also being marketed by the project owner with a call to earn up to $ 28,000 / month (approx. VND 650 million).

What is Vitae? The truth about tiered social networks Vitae

Vitae is a project of Vitae AG, a front company registered in Switzerland via PO Box. Vitea operates in Synthetic Team and is described as a social network like Facebook, Instagram or Twitter, but with the additional function of making money with advertising. Vitae, like Bitclout, is a decentralized social network, 90% of the profits are shared with the participants, the company only takes 10% of the income from advertising. Going forward, attendees will be promised to simply like and share posts to make money.

But before you reach that height (or never …), Vitae is like many multi-level models, one person pays the other first. To put it simply, with a 5 × 5 matrix, subscribers who want income have to pay to buy like packages. Each Like package has a value of around 140,000 VND, including 150 Likes, corresponding to the top position in the 5-story matrix tree, each subsequent floor must grow 5 times as many people as the previous floor. If that 5-tier tree has enough 3,906 attendees, the matrix leader will receive a commission of $ 344.1. Additionally, Tier 1 through Tier 4 members enjoy commission between $ 0.09 and $ 0.12. If the members listed below develop a full matrix tree, the top person will receive an additional sponsorship commission of $ 101.

Recently, a series of invitations to join a new social network called Vitae Vit appeared on social networks such as Facebook, YouTube, Zalo …

However, if you are only buying one position (so just one matrix tree) the probability that the matrix will be full of people is very difficult. And at that point the trick will show up. Vitae then encourages the player to buy multiple slots so that the likelihood of getting enough floors is higher. The minimum recommended amount for newcomers to the system is between VND 6 and 8 million (equivalent to 400-600 positions). This amount is relatively manageable for an investment project and is particularly suitable for young people who are “experienced” with new technology but have little capital.

To continue leading players into the maze of wins, Vitae is also offering a 3 × 8 matrix package for just $ 200, a total of 8 floors with nearly 10,000 people. If this matrix has enough floors (approx. 10,000 participants), the leader of the matrix receives a passive income of up to 28,000 US dollars / month for life (equivalent to 650 million US dollars / month). The more you buy 3 × 8 matrix trees, the more chance you have of making more money.

In order to get money quickly, the player must actively develop the system with both 3 × 8 and 5 × 5 matrices in order to fill the matrix tree. Because only if enough people join the matrix tree will the players receive money.

A fairly young investor named Kien said:

“Vitae is currently in beta, so there is no advertising revenue yet. However, participants can still make hundreds or even tens of thousands of dollars by purchasing similar packages through the 5 × 5, 3 × 8, and 2 × 10 matrix. In my zoom, many “ambassadors” earn hundreds of millions of dong / month. “

“My experience is that when you join the system you have to make a list of 100 dedicated people, then clone one at a time, convince everyone to join, the money will come back quickly. Just buy a position and wait for it to drop. It takes a long time to have money. Zoom I have a brother who pays 15 million dong to join the 3 × 8 matrix, his downline Fs are regularly developing the system, they all pay 15 million dong, so his matrix is ​​very fast and full. Income up to a hundred million dong / month, ”this guy shared his experiences with great enthusiasm.

As with other multi-tier cryptocurrency projects, Vitae members are constantly drawing a beautiful prospect of huge income up to thousands of dollars, even tens of thousands of dollars in just one month for participants. The profit is so high, but it seems nobody is wondering when the player can get the capital back. The project just says that the amount will gradually be deposited into the wallet until the matrix is ​​full. However, the ability of the participants to fill each of their matrix trees (from 4,000 to 10,000 players) is very difficult. Especially if Synthetic Teamese and Synthetic Teamese investors have already worked with previous multi-level projects such as OneCoin, iFan, etc.

After all, all Vitae player commissions are paid out in Vitae coins, not cash. Currently, for individuals who do not want to develop the system, Vitae members also recommend purchasing Vitae coins issued by the company and waiting for the price to go up to make a profit.

The Belgian authorities ordered the closure of the project earlier this week and temporarily arrested the suspects who are operators

The project owners behind Vitae are mainly Belgian, like founder Michael W., commercial director Mendy Zicherman, CEO Shrage Posen. Among them are three others, Guy Meeuwis, Kobe Bické and Tom Lauwerysen, who are responsible for expanding the project (actually money launderers). The six suspects arrested were charged with involvement in a criminal organization, as well as fraud and money laundering.

Mendy Zicherman, Commercial Director or introduced as the owner of Vitae AG (right)

The police seized 37% of the Vitae tokens, around 1.1 million euros in cash, 1.5 million in cryptocurrency and many luxury watches and gold coins. The Belgian authorities estimate that around 223,000 people fell victim to the project. Your losses are said to be in the tens of millions.

Source: CoinMarketCap

Vitae Coin currently ranks 943 on Coinmarketcap and is trading at $ 0.3484, up 40% over the past 24 hours. Despite warnings and previous multilevel projects, thousands of people are still working day and night to encourage the community to join the new Vitae social network with ads for huge incomes and high salaries.

Veronica

According to AZCoin News

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